Financial Goals: Makin’ It Happen

So last week or so I posted some specific goals I’d like to reach by end of this year. There were some financial ones, health ones, education ones and relationship ones.

I was able to post them but not able to give a lot of specifics on how to do achieve those goals. Today I wanna discuss how I am planning on meeting my financial goals for 2010 and give you a small update on each of them.

Here is my list from February 24 and my thoughts below.

1. $1,000 in emergency fund by year end 2010
2. $2,000 in cash savings by year end 2010
3. $1500 for vacation in fall of 2010
4. $800 for school every semester
5. Open a 401(k) and Roth IRA and begin to fund

On the emergency fund…
I am currently 75% to my goal. I was going back and forth whether to just throw all my extra money at it at once to get it up to the goal more quickly but I’ve got a few other things happenin’ so I’m going a little slower than I thought.

On the cash savings…
This isn’t much yet. I’ll say this: there’s some in there. But I am not contributing to it currently so I can add more to my e-fund. (By the way, this is basically an extension of my emergency fund. I’d like to get my e-fund up to 6-8 months of living expenses because you never know what could happen.)

On the vacation savings…
I am all set to go on a vacation but the more I think about it sometimes the more I think, “If I put that money toward my e-fund that’d ROCK.” But…vacations are good things. And I haven’t been on one in awhile so I’m doing this. Though I am thinking of cutting the cost down. 😉

On the school savings…
I’ve got a plan in place that should rock this baby home! I’m thrilled.

On the 401(k) and Roth IRA…
I will open the 401(k) in November as that is when I am eligible for an employer match. And I’m shooting to open my Roth once I”m done saving for vacation (hopefully mid or late summer.) I know some of you may have just fallen down dead that I’d put off retirement savings for a vacation NOW but it is what it is and I’m happy about it! 😉

There you have it, kids. Short and sweet.

What are some of your financial goals and how are you reaching them??

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